Demat Account Transmission After Death: What the Nominee or Legal Heir Must Do

First, Work Out Which Route Applies to You

The documents you need depend entirely on how the account was held. Check the account statement or ask the Depository Participant (DP — the broker or bank where the account was opened) which of these applies:

• Sole holder, nominee registered — the simplest route. The shares move to the nominee.
• Joint account, one holder has died — the deceased holder's name is deleted and the surviving holder(s) continue.
• Sole holder, no nominee — the shares move to the legal heir(s), with proof of heirship.

Transmission is a transfer by operation of law, not a market sale. The shares are credited to the receiver's own demat account, so the nominee or heir should have (or open) a demat account in their own name before applying.

The SEBI 2026 Framework: Higher Limits, Fewer Papers

SEBI's revamped transmission framework, approved in June 2026 and issued by circular dated 23 July 2026, applies across depositories (CDSL and NSDL), DPs, and registrars for physical shares. The key changes:

• A combined affidavit-cum-NOC is now permitted, replacing separate annexures that families earlier had to execute individually.
• Probate of a will is no longer mandatory for transmission of securities. (Probate can still matter for property — that is a separate process.)
• QR-coded death certificates are accepted.
• Entities are to ordinarily complete transmission within 21 calendar days of receiving a complete application.

Route A: Nominee Claiming a Sole Holder's Account

1. Inform the DP where the deceased held the account, and confirm the nomination registered on the account names you.
2. Fill the transmission request form. For a CDSL account, nominee claims on a sole-holder account use the CDSL transmission form along with the nomination annexure. For an NSDL account, the transmission form is Annexure O.
3. Attach the documents (see the checklist below): death certificate, your PAN and identity/address proof, and the client master list (CML) of your own demat account showing your name, DP ID and client ID.
4. Submit and take a stamped acknowledgment. Keep the acknowledgment and a full copy of the set you submitted.
5. Shares are credited to your demat account, and the deceased's account is closed.

Route B: Death of a Joint Holder

Where the account was held jointly and one holder has died, the account is not closed — the deceased holder's name is deleted and the surviving holder(s) continue operating it.

1. For a CDSL account, use the transmission request form Annexure 7.2, which is specifically the form for transmission on the death of one or more joint holders. For NSDL, use Annexure O.
2. Attach a certified copy of the death certificate of the deceased holder and the surviving holders' KYC documents as the DP asks.
3. After processing, verify that the name deletion is reflected in the next account statement.

Route C: No Nominee — Legal Heirs Claim

If no nomination was registered, the legal heirs claim together. One heir can receive the shares if the others give their no-objection.

1. Fill the transmission form (CDSL transmission form / NSDL Annexure O) and attach the death certificate.
2. Prove heirship: a legal heir certificate or succession certificate, or a will left by the deceased, or a family settlement deed — depending on the family's situation and the value involved.
3. Execute the supporting documents. Under NSDL's annexure series these are: Annexure OC (letter of indemnity), Annexure OD (affidavit) and Annexure OE (no-objection certificate from the non-claiming heirs). Within the simplified limits, a combined affidavit-cum-NOC can be used instead of separate documents.
4. Stay within the simplified route if you can: for demat holdings up to ₹30 lakh per beneficial owner, the reduced document set applies and no court process is needed.
5. Submit to the DP, take a stamped acknowledgment, and track completion against the 21-calendar-day norm.

Documents Checklist

• Transmission request form (CDSL transmission form / Annexure 7.2 for joint-holder death; NSDL Annexure O)
• Certified copy of the death certificate (QR-coded certificates are accepted)
• Claimant's PAN card and identity/address proof
• Client master list (CML) of the claimant's own demat account
• For no-nominee claims: legal heir certificate / succession certificate / will / family settlement deed, as applicable
• Indemnity (NSDL Annexure OC), affidavit (Annexure OD) and NOC from other heirs (Annexure OE) — or the combined affidavit-cum-NOC under the simplified route
• Originals for verification — carry them, submit copies unless the DP specifically retains an original

Before the Account Is Closed

• Download or print the holding statement and transaction history of the deceased's account before transmission completes — once the account is closed, pulling old statements becomes much harder, and you will want the purchase history for your own records.
• Do not transact in the deceased's account after the death — no selling, pledging or off-market transfers. Transmission is the only route.
• Physical share certificates follow the same framework through the company's registrar (RTA), with the simplified limit of ₹10 lakh per listed company.
• If a DP insists on probate for a securities transmission within the simplified limits, point to SEBI's 2026 framework — probate is no longer mandatory for this — and escalate in writing if needed.